Digital regulators are eager to assist innovators navigate regulatory compliance. The DRCF AI and Digital Hub does precisely that: it’s a groundbreaking new initiative that helps companies by providing free casual recommendation on how regulation applies to their progressive services or products.
The Hub is a singular service that provides free casual recommendation throughout the 4 DRCF member regulators’ remits[1] through a single portal. It helps convey new services and products to market sooner. By this implies, DRCF regulators are supporting UK innovation and enabling financial development.
Current analysis from the DRCF into 500 digital and AI start-ups and small companies underscores how embracing regulatory compliance can drive enterprise innovation and gas development. Over eight in ten (82 per cent) enterprise leaders agreed that understanding regulatory steerage helped their companies innovate and develop responsibly. Moreover, 85 per cent credited regulatory steerage with constructing belief, managing dangers and figuring out new alternatives for development.
These figures spotlight an essential actuality: efficient compliance is vital to accountable and profitable innovation and a driver for long-term success. Innovators that take into account compliance early within the journey see tangible advantages. They’ll keep away from expensive pitfalls and acquire credibility with stakeholders whereas creating progressive services and products.
As a bunch of regulators, the DRCF’s intention in launching the game-changing AI and Digital Hub is to assist innovators – whether or not start-ups, small enterprise or bigger firms – perceive these compliance necessities in a really sensible means by one consolidated service.
How do you apply?
The AI and Digital Hub is at present operating as a pilot service and so is simply open to queries till 28 February 2025. When you’ve got a question for regulators, make the most of this distinctive alternative to realize the readability and confidence it is advisable to thrive in a fast-changing market.
Apply now through the DRCF web site at www.drcf.org.uk/ai-and-digital-hub/
[1] The Hub attracts enter from CMA, FCA, ICO and Ofcom whose remits cowl monetary providers, information safety, client safety, competitors and communications.
Kate Jones is CEO of the Digital Regulation Cooperation Discussion board (DRCF).
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